Altshuler Shaham Finance Control Sold toשור, Boosting Share Prices

The Israeli stock market experienced mixed trading on the first day of the Hebrew year 5787, with major indices showing little movement. However, significant corporate news drove specific stock performances. The sale of controlling shares in Altshuler Shaham Finance, as previously reported by Calcalist, was finalized. WINSURE Global Tech will acquire a 45% stake from Altshuler Shaham Ltd. for NIS 800 million, with CEO Yair Levinstein purchasing an additional 10% for approximately NIS 180 million. Following this news, Altshuler Shaham Finance shares climbed 1.4%, and WINSURE shares rose 4%.

In other market activity, chip-related stocks faced downward pressure. Tower Semiconductor dropped 4.8%, Nova retreated 6.3%, and Camtek lost 4%. Conversely, Eretz Industries surged 12.7% after announcing a $16 million deal with an Indian company for its subsidiary Reshef Technologies, which manufactures electronic fuses for ammunition. Deliveries for this order are scheduled for 2027.

The Competition Authority approved ZOL Stock's acquisition of ACE and Betili. Ronen Ganon's ZOL Stock will pay NIS 168 million for 70% of Multi Retail, which owns chains including ACE, Auto Depot, Betili, and Urban. This acquisition, from KADMA Fund, aims to merge these retail operations into a single entity with 155 stores and an annual turnover of NIS 1.7 billion. The value of Multi Retail had previously fallen from NIS 400 million at its IPO to NIS 54 million in 2023.

Early trading saw the Tel Aviv 35 and 125 indices down by as much as 0.7%, influenced by declines in New York futures and rising oil prices. However, the indices recovered to trade flat by the close. Long-term Israeli government bond yields saw a slight increase.